TD Asset Management Inc. cut its stake in shares of Accenture Plc (NYSE:ACN) by 0.9% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 533,653 shares of the information technology services provider’s stock after selling 4,879 shares during the quarter. TD Asset Management Inc.’s holdings in Accenture were worth $93,933,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Forsta AP Fonden lifted its stake in shares of Accenture by 5.9% in the 1st quarter. Forsta AP Fonden now owns 261,228 shares of the information technology services provider’s stock valued at $45,981,000 after purchasing an additional 14,600 shares during the period. McKinley Carter Wealth Services Inc. lifted its stake in shares of Accenture by 7.9% in the 1st quarter. McKinley Carter Wealth Services Inc. now owns 21,185 shares of the information technology services provider’s stock valued at $3,729,000 after purchasing an additional 1,547 shares during the period. Intercontinental Wealth Advisors LLC lifted its stake in shares of Accenture by 22.0% in the 1st quarter. Intercontinental Wealth Advisors LLC now owns 709 shares of the information technology services provider’s stock valued at $125,000 after purchasing an additional 128 shares during the period. Semmax Financial Advisors Inc. acquired a new position in shares of Accenture in the 1st quarter valued at about $32,000. Finally, Fiduciary Trust Co. lifted its stake in shares of Accenture by 16.1% in the 1st quarter. Fiduciary Trust Co. now owns 16,356 shares of the information technology services provider’s stock valued at $2,879,000 after purchasing an additional 2,272 shares during the period. 69.09% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Accenture stock opened at $178.81 on Friday. Accenture Plc has a one year low of $132.63 and a one year high of $183.35. The stock has a market capitalization of $120.15 billion, a P/E ratio of 26.53, a PEG ratio of 2.38 and a beta of 1.12.
Accenture (NYSE:ACN) last issued its earnings results on Thursday, March 28th. The information technology services provider reported $1.73 EPS for the quarter, beating analysts’ consensus estimates of $1.57 by $0.16. Accenture had a return on equity of 38.57% and a net margin of 10.52%. The business had revenue of $10.45 billion during the quarter, compared to analyst estimates of $10.30 billion. During the same period in the previous year, the company posted $1.58 EPS. The firm’s revenue was up 5.5% compared to the same quarter last year. On average, equities analysts anticipate that Accenture Plc will post 7.31 earnings per share for the current fiscal year.
The business also recently disclosed a semiannual dividend, which was paid on Wednesday, May 15th. Shareholders of record on Thursday, April 11th were issued a dividend of $1.46 per share. This represents a yield of 1.66%. The ex-dividend date of this dividend was Wednesday, April 10th. Accenture’s dividend payout ratio is currently 43.32%.
A number of research analysts have recently issued reports on ACN shares. Berenberg Bank reissued a “buy” rating and issued a $190.00 price objective on shares of Accenture in a research note on Monday, April 1st. ValuEngine raised Accenture from a “hold” rating to a “buy” rating in a research note on Friday, March 22nd. Citigroup boosted their price objective on Accenture from $169.00 to $194.00 and gave the company a “buy” rating in a research note on Friday, March 29th. UBS Group set a $180.00 price objective on Accenture and gave the company a “hold” rating in a research note on Thursday, March 28th. Finally, SunTrust Banks boosted their price objective on Accenture to $180.00 and gave the company a “hold” rating in a research note on Friday, March 29th. They noted that the move was a valuation call. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and thirteen have issued a buy rating to the company. Accenture has a consensus rating of “Buy” and an average price target of $183.58.
In other Accenture news, insider Richard Lumb sold 18,000 shares of the business’s stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $181.19, for a total transaction of $3,261,420.00. Following the completion of the sale, the insider now directly owns 95,215 shares of the company’s stock, valued at approximately $17,252,005.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Ellyn Shook sold 2,343 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $175.83, for a total value of $411,969.69. Following the sale, the insider now directly owns 33,545 shares of the company’s stock, valued at $5,898,217.35. The disclosure for this sale can be found here. Insiders have sold a total of 65,919 shares of company stock valued at $11,695,852 over the last three months. Corporate insiders own 0.18% of the company’s stock.
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Accenture plc provides consulting, technology, and outsourcing services in Ireland and internationally. Its Communications, Media & Technology segment provides professional services that help clients accelerate and deliver digital transformation, develop industry-specific solutions, and enhance efficiencies and business results for communications, media, high tech, software, and platform companies.
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